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Category Archive for 'The New Depression'

Bad policy

And how it’s making the recession damage permanent. Still, some countries have managed to avoid, or at least start to climb out of, this “lowflationary” trap. Australia, for example, defines “price stability”more liberally than other countries—2 to 3 percent averaged over the business cycle—and that’s helped it keep rates and inflation from falling too far to begin […]

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One of my friends just sent me this piece from Politico written by Nick Hanauer, a .01%er, “to my fellow zillionaires”: But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. […]

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Yeah, no shit.

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Most people I know who were lucky enough to get raises got only one or two percent: NEW YORK (AP) — If you hope to get a raise that finally feels like one, it helps to work in the right industry. Pay for all kinds of workers should be rising by this point in the […]

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Oh, come on! It only has important implications for policymakers if they want to stop them: The lost jobs, sinking home values and stock market free-fall of the Great Recession led to a significant rise in suicides, according to a new study. At least 10,000 more Americans and Europeans took their own lives from 2007 […]

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I think of the many people I know who got knocked down and never got back up. I think about my friend Lyn, who just couldn’t take it. I know there must be thundreds of thousands in the same horrible place: A comprehensive study of long-term unemployed published by Rutgers University’s John J. Heldrich Center for […]

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But not enough yet to substitute public relations for substance: Yesterday’s Conference on Inclusive Capitalism co-hosted by the City of London Corporation and EL Rothschild investment firm, brought together the people who control a third of the world’s liquid assets – the most powerful financial and business elites – to discuss the need for a moresocially responsible […]

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This guy did everything “right,” in the world according to wingnuts. Business degree, not a humanities major. Right-thinking Republican who identifies as libertarian. Guys like this remind me of the right-to-lifers who never actually realized that changing the legal definition of life to the moment of conception meant that women who had abortions would have […]

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Median CEO pay packages hit the 10.5 million mark in 2013… Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public company earned a record $10.5 million, an increase of 8.8 percent from $9.6 million […]

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Giving up

I know so many people who have stopped looking, so this doesn’t surprise me: Some 47% of unemployed Americans say they’ve given up on looking for work, according to a poll commissioned by staffing firm Express Employment Professionals. More than half say looking for work has been more difficult than expected; only 2 in 10 […]

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